artists_logo.gif Artist's Marketplacee
  Your interactive artists' community
Monday, December 01, 2008 Register | Login
     
 
Artists Network
Subject: Pricing of Paintings

You are not authorized to post a reply.   
Page 2 of 2 << < 12
Author Messages
spheris

Posts:19

08/25/2007 11:22 PM Alert 
so then how much is too much when charging per square inch?
Alissa

Posts:12

08/31/2007 10:31 PM Alert 
I don't know what works for anyone other than myself, but I price my work using United Inches. 
You can figure united inches by adding the height + width of the painting. 
Then take the united inches time what I like to call the "x" factor. This "x" factor increase as you begin raising your prices. I don't have a formula for how to figure what your "x" factor should be, but I will tell you that I started at 3.5 when I started. Hope that helps some . . . don't worry, it will get a bit easier after you can get a system established!
Alissa

www.a-sheley.com

See more Acrylic on Plexiglass paintings by Acrylic artist, Alissa Sheley.
NaomiBlvs

Posts:164

09/01/2007 6:39 AM Alert 

Alissa, are you speaking of prints or originals.  The square inch is height X width, then X the "factor."  At least that is how I will be figuring my originals.  Prints I would follow your united inches formula height + width x factor = Amount.

By adding height and width only, times the factor, there is a significant difference.  Of course, I am new to all of this and I have been doing a lot of research, so I may be wrong.

Example for originals using your factor:

36 + 30 = 66 x 3.5 = $231
(Do you really want to sell this size of an original painting for $231?  A print maybe.)

36 X 30 = 1080 x 3.5 = $3,780 (Significant difference for an original painting.)

Now for me, since I am starting out, my factor is going to be lower, about half of that...until I start making a name for myself!


Wishing you peace and prosperity,
Naomi
www.naomisstudio.com
Alissa

Posts:12

09/01/2007 11:25 AM Alert 
Naomi -
That's how I price my original work. Due to the nature of my paintings, I can not make prints so I've not thought through how I would go about pricing them.
Like I said, I started with 3.5 as my "x factor", but have moved up substantially as I have had success. When I was first starting out, my paintings were much smaller than 30 x 36, but yes I sold some of them for around $200.
I'm impressed that you're selling starting work around $1,500 . . . is that what you're making from the paintings or the actual selling price with a gallery getting a cut?
Alissa

See more Acrylic on Plexiglass paintings by Acrylic artist, Alissa Sheley.
NaomiBlvs

Posts:164

09/01/2007 11:53 AM Alert 

"I'm impressed that you're selling starting work around $1,500 . . . is that what you're making from the paintings or the actual selling price with a gallery getting a cut?"

 I have not even started selling.  I am in the process of thinking through a business plan, putting it together in the next week or two, and probably start selling in November.

I will probably start with selling prints of my paintings.

I don't have gallery representation and don't anticipate getting any until I have established myself a little.

I am not worried about the pricing of my original paintings because I love what I do and I believe that is what they are worth. If someone doesn't want to buy them, they won't and they will decorate my walls.  My prints will be the more affordable choice for most.

I learned from my first business as a virtual assistant to believe in my worth.  Those who are willing to see the value in what I provide are willing to pay my rates.  I have even raised my rates a couple of times without any of my clients blinking an eye and I have people trying to knock down my door at least once or twice a month requesting to be put on my waiting list.

My VA business, http://www.topshelfva.com, is what is going to pay for my art "business."  It also taught me to believe in myself and that I don't have to start pricing at the low end "just to get clients."

Barney Davey's book, "How to Profit from the Art Print Market" really helped me to focus in on who I am and where I am at right now as far as my art.  With my VA business, it can afford me the ability to pursue my art the way I want to, i.e., it pays the bills, including my art supplies, and I can enjoy making my art the way I want to.

So, by Barney's choices, I have started at the bottom rung.  Be an accomplished amateur artist who makes occasional sales.  I'll start getting my feet wet and see if I enjoy it.  I've given most of my paintings away up to now, so I am starting from scratch anyway.

I actually had a friend in Alaska once that told me I could not come visit her unless I came with one of my paintings as a gift to her, which she had fallen in love with.    No more of that!!


Wishing you peace and prosperity,
Naomi
www.naomisstudio.com
Alissa

Posts:12

09/01/2007 9:51 PM Alert 
I hope that this will work well for you. Best of luck!
Alissa

www.a-sheley.com

See more Acrylic on Plexiglass paintings by Acrylic artist, Alissa Sheley.
bjdavey

Posts:37

09/02/2007 3:39 AM Alert 
Naomi,

Thanks for the kind words about my book! I saw a new review dated August 30 of it on Amazon today that is almost embarrassing for me to read because of the way the reviewer, whom I've never met, said it helped her and her husband. She's a painter and he's an artist.

You should be rightly proud of your own business skills as portrayed on your Web site...very impressive. If you take the same professionalism you show in your VA biz into your painting career, I don't see how you can miss being successful. Regarding giving art away. I'm right with you. Don't do it. I bet you don't give your VA skills away. Your family and friends need to be the first to recognize and support it is a viable commercial effort and not a hobby. If you don't value it, it's impossible to get anyone else to do it.

I quit stocking copies of my book as I found it was too easy for me to give them to people who often didn't read it because they didn't have any investment in it. The same is true for your art. You work too hard to create a painting, if it's good enough for someone to want it, then by golly it's good enough for that person to buy it. I know it's easier to say than do, but part of becoming successful as an artist businessperson is learning to be both tough and tender. Tough enough to say to anybody except maybe your mom, "If you want it, the price is $x.xx and tender enough to put it in a way that shows you sympathiize with the person asking, but not enough to be giving the product of your creative output away.

Reality is an illusion, albeit a persistent one - Albert Einstein
NaomiBlvs

Posts:164

09/02/2007 3:44 PM Alert 
"If you want it, the price is $x.xx and tender enough to put it in a way that shows you sympathiize with the person asking, but not enough to be giving the product of your creative output away.


LOL, BJ, you left out a few Xs. That should be $X,XXX.XX.

Wishing you peace and prosperity,
Naomi
www.naomisstudio.com
bjdavey

Posts:37

09/02/2007 5:12 PM Alert 
Okay Naomi,

You got me there, and at the same time proving my point about your business acumen and bringing up another fine attribute to have...a good sense of humor.

Reality is an illusion, albeit a persistent one - Albert Einstein
brightwater03
Posts:9

09/02/2007 7:55 PM Alert 

Hello Barney and Naomi,

 

What an interesting exchange of views!  It reinforces once again that HOW SHOULD I PRICE MY ART is a major concern for most artists, particularly those starting out or who have not established a consistent track record of sales.  I., too, am a Barney Davey fan because of his wise advice and long experience in marketing and promoting art. 

 

His book: HOW TO PROFIT FROM THE ART PRINT MARKET should be on the desk of every artist serious about becoming successful and should be read by those still undecided about choosing the road to become a professional.  His straight from the shoulder advice will help you decide if you enough “ fire in the belly” to do what needs to be done.

 

I spent 20+ years on the road as an art rep for individual artists and fine art publishers and wish I’d had Barney’s book when I was starting out to sell my own art and establish myself as a rep.  Traveling thousands of miles and selling hundreds of thousands of dollars worth of art each year were my teachers.  Barney would have made the path easier, and after reviewing Naomi’s impressive website and credentials as a Virtual Assistant, I’d have welcomed her kind of expertise even though I spent many years in the ad business and as an agency owner before becoming an art rep.

 

I just posted a seventeen-minute podcast titled: HOW SHOULD I PRICE MY ART on www.salestipsforartists.com.  If you’d like to hear what I learned “the hard way,” I hope you’ll click the link and tune in.  There are actual dollars-and-cents examples of formulas that helped the artists I represented sell repeatedly and an overview taken from up-to-date trade publications of prices currently charged for originals and prints by the artists who will be your competition.

 

Dick Harrison

 

Alissa

Posts:12

09/03/2007 11:27 AM Alert 
Thanks for the podcast Dick - very informative! How long were you in the ad agency game? I'm an account executive at one of the top small agencies in the Midwest & I love it! Even though I graduated with an art degree, I only use my painting as a balance to keep me sane. It's also nice that I make enough money off of it that it could be a full-time job!
I'm curious how much location should come into play when pricing work. The artist's cut prices you use in your podcast ($3,000), and Naomi's example ($1,500) would be a pretty tough sell for an unestablished artist in the Midwest. Maybe after several years of success . . ? Two of my mentors. who have been established and successfully painting for a long time are starting to price things at that range . . . but one of them has a piece in the Smithsonian, so I figure that counts for something.
Not completely understanding how the art world works outside of the Midwest is exactly why I'm visiting this forum. I'm wanting to begin expanding my sales to the coasts, but I'm not sure how to take that next step. Dick have you got any recommendations?

Alissa
www-a-sheley.com

See more Acrylic on Plexiglass paintings by Acrylic artist, Alissa Sheley.
brightwater03
Posts:9

09/03/2007 10:47 PM Alert 
Hello Alissa,
Ultimately the marketplace will determine what buyers are willing to pay. The numbers in the podcast are only examples to demonstrate how a “formula” works. When I was selling to trade buyers most of my sales for individual pieces were between $50 and $500 wholesale - $100 to $1,000 retail. I carried everything from small open edition prints and reproductions for a few dollars to original oil paintings for thousands.

Here’s the sort of conversation I had dozens of times with artists showing samples of their art. Me: “Your paintings are lovely and I think they are salable.” Artist: “I love to paint. If only I could devote full time to it, I’d be in heaven.” Me: “If someone paid you $1,000 a week just to paint, would that seem fair? Artist: “I’d be thrilled beyond words! I’d paint even if I wasn’t paid – it’s something I have to do.” Me: “It certainly shows. I especially like this tropical acrylic. How long did it take you to paint it?” Artist: “About three hours – it was such fun!” Me: “If I found a buyer for it, what do think would be a fair price?” Artist: “My gallery sold one similar to it for $900 and I got $450. I’d like more, but $450 would be OK. It’s one of my best!” Me: “How many of your paintings have they sold for about that price?” Artist (hesitating): “Well, just the one.” Me: “How many of your paintings has your gallery sold this year?” Artist (hesitating): “Well, just that one.” Me: “If you painted full time for $1,000 a week, that would equal $25 an hour for forty hours. If you spent three hours painting, that adds up to $75. Would you still be thrilled if you got $75 and not the $450 you said would be fair?”

It has been many years since I owned an ad agency.” We had two artists full time, out of our ten to twelve people, including the partners. I’m out of touch with what agencies are paying now, but my guess is, not many of that size are paying artists a grand a week. We didn’t. (We tried to do other nice things for our people, including one three day weekend every month, use of our condo on Siesta Key in Sarasota for two weeks each year – paid airfare down and back and use of a car.)

My guess is, only a fraction of the artists posting and commenting on forums like this are making $1,000 a week, and, judging by the websites I look at, there are many fine artists with real talent producing excellent art I’d have been pleased to carry if it were priced realistically.

Florida, where I live and traveled, is a great state to sell art to interior designers and architects. Places like the Palm Beaches and Naples are exceptional, but my guess is, across the country, art sells wherever the real estate market is “hot” and there are affluent buyers purchasing expensive homes. I hope you have the chance to listen to all the podcasts on www.salestipsforartists.com. There are some very specific suggestions on who to target and how, including what I’d be doing using websites, digital slideshows and technology if I were still selling in these days of $3 a gallon gas and a depressed real estate market.
Thanks for your comment! I hope this helps.
Dick Harrison
You are not authorized to post a reply.
Page 2 of 2 << < 12

Forums > Join the Discussion > Business Matters > Pricing of Paintings



ActiveForums 3.6